Spotting Nonprofit Accounting Tricks

Nonprofits are profiting off lax accounting oversight.

You need to be as rigorous in vetting nonprofits for accounting chicanery as you are with public companies trading on the stock exchanges.

Disabled American Veterans, or DAV, is a 96-year-old nonprofit that does fine work for vets wounded in the service of their country. Its glossy 2014 annual report shows that it’s also efficient, with 76.6%...